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NRF Projects Father’s Day Spending Increase

Father’s Day is just around the corner and consumers are planning to spend a little more on dad this year, according to a press release by the National Retail Federation. In a spending survey conducted by BIGInsight, the average person will spend $119.84 on Father’s Day gifts this year, which is up from $117.14 last year. Total spending is expected to reach $13.3 billion.

Speaking of Father’s Day, Brad Wolansky of Yankee Candle Co. talked with Multichannel Merchant’s Tim Parry at IRCE 2013 about Yankee Candle’s new line of “Man Candles.” Looks like Tim will be getting the “MMM… Bacon” one for his dad!” Click the image above to view the video.

Online retailers will see a slight increase in traffic this year, 29.8% will shop online, which is up from 28.4% last year. Department stores remain the preferred shopping location for gift buyers, according to the press release.

Mobile shoppers will be out and about in the next few weeks as they look for a gift for dad. Two in five of those who own a tablet plan to use their tablet to make a Father’s Day purchase. More than half of tablet owners will user their device to research products and compare prices, redeem coupons and look up retailer’s information such a store hours and location, according to the press release.

Four in 10 smartphone users will user their mobile device to research the perfect gift idea and compare prices and look up store information.

Consumers are expected to stick with traditional gifts for their fathers, while some will splurge on clothing, electronic items and special outings, according to the press release. Those intending on celebrating Father’s Day will spend $1.7 billion on a new electronic gadget, such as a table or GPS system, and $1.8 billion on clothing.

Families are also expected to spend $1.8 billion on the perfect practical gift, others will splurge on home improvement items and gardening tools, sporting goods, personal care items and automotive accessories.

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Being prepared for the holiday rush used to mean stocking shelves and making sure your associates were ready for the long hours. But the digital revolution has changed everything, most importantly, customer expectations. Retailers with a physical store presence should be asking themselves—what am I doing to wow the customer?